Sell the news after Cardano’s Vasil hard fork delay?

The Cardano Vasil hard fork will likely get delayed again as the development team falls behind targets for a smooth network upgrade. The organization responsible for Cardano’s research and development released a new update announcing a delay in the hard fork. 

Also read: Cardano eyes $0.55 target after successful smoke test on Vasil testnet

Vasil hard fork is postponed second time 

Kevin Hammond, IOG technical manager, announced that the Vasil hard fork would be postponed for a second time so that all involved parties, including exchanges and API developers. 

Hammond said, 

Obviously, from where we are, there could be a few more weeks before we go to the actual Vasil hard fork [...] This is incredibly important. All the users must be ready to progress through the hard fork to ensure a smooth process.

IOG is focused on resolving testnet issues before Cardano moves ahead with node version 1.35.2. The new node version fixes issues related to stake pool operators, dApp developers and internal testing. 

IOG intends to flush out final issues and fix testing authority without a rush. 

Why the Vasil hard fork is key to Cardano holders?

Vasil hard fork is the most significant upgrade to Cardano since the Alonzo hard fork, completed in September 2021. The upcoming hard fork is a game changer in the Ethereum-killer’s development path. It is expected to improve the Cardano network’s speed and scalability and make it preferable for developers compared to Ethereum and other competitors. 

Input Output released Vasil hard fork roadmap in May 2022, and the event was scheduled for June 29. The hard fork was eventually delayed until the last week of July over several issues and bugs.     

Vasil hard fork delay has pushed the event closer to Ethereum’s Merge, one of the most widely anticipated events in the crypto ecosystem. The second-largest blockchain by value, Ethereum’s Merge, is scheduled to occur in September 2022 after multiple delays. 

Analysts predict decline in Cardano price

Analysts at FXStreet have evaluated the Cardano price trend and predicted a decline in the altcoin. Cardano price lacks momentum; analysts believe traders should prepare for the possibility of a pullback.